Objector Koehler wanted two bites.
May a lead class plaintiff object to a class action settlement as inadequate, lose, and later sue class counsel for getting an inadequate settlement? Unsurprisingly, the Eighth Circuit today held that he may not, concluding that the district court’s approval of the settlement as fair, adequate, and reasonable precluded the lead plaintiff from establishing otherwise. Koehler v. Brody , No. 06-2537 & 06-2746 (8th Cir. Mar. 27, 2007).